By Devika Patel
Knoxville, Tenn., May 24 – VeriSign, Inc. priced $750 million of 2.7% 10-year senior notes (Baa3/BBB) with a spread 112.5 basis points over Treasuries on Monday, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.712 to yield 2.733%.
The notes were initially talked to yield in the Treasuries plus 150 bps area.
The bookrunners are J.P. Morgan Securities LLC, BofA Securities, Inc. and U.S. Bancorp Investments Inc.
Proceeds will be used to redeem all of the company’s 4.625% senior notes due May 1, 2023 and for general corporate purposes.
The internet infrastructure services provider is based in Reston, Va.
| Issuer: | VeriSign, Inc.
|
| Description: | Notes
|
| Amount: | $750 million
|
| Maturity: | June 15, 2031
|
| Bookrunners: | J.P. Morgan Securities LLC, BofA Securities, Inc. and U.S. Bancorp Investments Inc.
|
| Coupon: | 2.7%
|
| Price: | 99.712
|
| Yield: | 2.733%
|
| Spread: | Treasuries plus 112.5 bps
|
| Call: | Make-whole call at Treasuries plus 20 bps until March 15, 2031, then a par call
|
| Change-of-control put: | At 101
|
| Trade date: | May 24
|
| Settlement date: | June 8
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Distribution: | SEC registered
|
| Guidance: | Treasuries plus 150 bps area
|
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